Hsbc Holdings PLC Purchases 1,805 Shares of Casey’s General Stores, Inc. $CASY

Hsbc Holdings PLC lifted its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 354.6% in the second quarter, HoldingsChannel.com reports. The firm owned 2,314 shares of the company’s stock after purchasing an additional 1,805 shares during the period. Hsbc Holdings PLC’s holdings in Casey’s General Stores were worth $1,166,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Valmark Advisers Inc. raised its position in Casey’s General Stores by 0.5% during the 2nd quarter. Valmark Advisers Inc. now owns 4,404 shares of the company’s stock valued at $2,247,000 after purchasing an additional 21 shares during the last quarter. Accurate Wealth Management LLC increased its stake in shares of Casey’s General Stores by 3.9% during the second quarter. Accurate Wealth Management LLC now owns 727 shares of the company’s stock valued at $381,000 after buying an additional 27 shares during the period. Wallace Advisory Group LLC increased its stake in shares of Casey’s General Stores by 5.6% during the second quarter. Wallace Advisory Group LLC now owns 543 shares of the company’s stock valued at $277,000 after buying an additional 29 shares during the period. Moors & Cabot Inc. raised its holdings in shares of Casey’s General Stores by 0.3% during the second quarter. Moors & Cabot Inc. now owns 10,619 shares of the company’s stock valued at $5,418,000 after acquiring an additional 30 shares in the last quarter. Finally, ANB Bank lifted its stake in Casey’s General Stores by 5.3% in the second quarter. ANB Bank now owns 595 shares of the company’s stock worth $304,000 after acquiring an additional 30 shares during the period. 85.63% of the stock is owned by institutional investors.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $566.52 on Tuesday. The company’s fifty day moving average price is $549.21 and its 200-day moving average price is $523.16. The stock has a market cap of $21.06 billion, a PE ratio of 36.36 and a beta of 0.65. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65. Casey’s General Stores, Inc. has a 12 month low of $372.08 and a 12 month high of $573.76.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.02 by $0.75. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. Casey’s General Stores’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the company posted $4.83 EPS. On average, equities analysts expect that Casey’s General Stores, Inc. will post 13.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CASY shares. Stephens boosted their price objective on shares of Casey’s General Stores from $570.00 to $600.00 and gave the company an “overweight” rating in a research report on Wednesday, December 3rd. Jefferies Financial Group raised their target price on shares of Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. The Goldman Sachs Group boosted their price target on shares of Casey’s General Stores from $450.00 to $490.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Zacks Research downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a report on Monday, December 1st. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $575.78.

Insider Buying and Selling at Casey’s General Stores

In other news, insider Chad Michael Frazell sold 3,487 shares of Casey’s General Stores stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the transaction, the insider directly owned 7,993 shares in the company, valued at approximately $4,439,312.20. This trade represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.54% of the company’s stock.

About Casey’s General Stores

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.